
Govt to release Pakistan Economic Survey 2024–25 today
Listen to article
Pakistan will unveil its Economic Survey 2024–25 on Monday (today), a key pre-budget document assessing the country's economic performance and policy priorities.
The survey will be presented by Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, according to a statement by the Ministry of Finance.
Serving as an annual stocktake, the Economic Survey outlines achievements, challenges, and key trends in the outgoing fiscal year across major sectors including agriculture, manufacturing, services, energy, information technology, health, education, and infrastructure.
READ MORE: ADB approves $800m financial package for Pakistan
It will also feature updates on inflation, employment, trade, balance of payments, public debt, and climate change impacts, offering a comprehensive view of macroeconomic indicators to inform public debate and policymaking.
The document highlights that the GDP growth for 2024–25 has been recorded at 2.7%, with a target of 4.2% set for the upcoming fiscal year. The survey also points to a 30.9% rise in remittances between July 2024 and April 2025, and notes that the current account remained in surplus during this period.
Fiscal performance showed marked improvement. The fiscal deficit declined to 2.6% of GDP, while the primary balance recorded a surplus of 3%, reflecting tighter fiscal discipline. Policy interest rates were reduced to 11% amid signs of economic stabilisation and improving fundamentals.
Private sector credit expanded, with loans worth Rs681 billion disbursed between July 2024 and May 2025.
The Annual National Development Programme (ANDP) for 2024–25 received a total allocation of Rs3,483 billion. Of this, Rs1,100 billion was earmarked for federal projects, and Rs2,383 billion for provincial initiatives.
The National Economic Council (NEC) acknowledged signs of recovery, attributing improvements to coordinated federal and provincial efforts. It credited the agriculture sector for its strong contribution to reserves and growth, adding that a comprehensive strategy is being prepared to boost long-term agricultural productivity.
The survey is expected to lay the groundwork for the federal budget and shape Pakistan's future economic roadmap.
READ MORE: Budget delayed by a week
The federal government is set to unveil its fiscal year 2025–26 budget on June 10 evening after securing approval from the federal cabinet in a special session chaired by Prime Minister Shehbaz Sharif.
The budget, finalised in consultation with the International Monetary Fund (IMF), is expected to range between Rs17.5 trillion and Rs18 trillion. The document will be presented in Parliament following cabinet approval.
Budget schedule approved
Speaker of the National Assembly, Sardar Ayaz Sadiq, has approved the schedule for the upcoming National Assembly sessions. The Federal Budget 2025–26 will be presented on June 10.
The House will observe recess on June 11 and 12, with the general debate on the budget beginning June 13. The discussion will continue until June 21, and all parliamentary parties will be allocated time to contribute in accordance with Assembly rules and procedures.
Key measures include proposed increases in public sector salaries and pensions. Three options are under consideration: a 10% raise aligned with inflation, a 30% disparity allowance for grades 1 to 16, and tax relief on government salaries.
The budget sets the Federal Board of Revenue's (FBR) tax collection target at Rs14.3 trillion, including Rs6.47 trillion in direct taxes, Rs4.94 trillion from sales tax, Rs1.74 trillion from customs duties, and Rs1.15 trillion from federal excise duties. Non-tax revenue is estimated at Rs2.58 trillion.
Debt servicing remains the largest expenditure, with Rs8.68 trillion allocated, followed by Rs2.41 trillion for defence. Federal development spending is projected at Rs1.06 trillion under the Public Sector Development Programme (PSDP).
In a push for industrial growth, duties may be reduced on over 7,000 tariff lines, primarily affecting raw materials and capital goods. The government is also expected to remove the additional 2% customs duty on 4,294 tariff lines.
The upcoming budget may include a scheme to provide energy-efficient ceiling fans on instalments via electricity bills, aimed at curbing power consumption. These fans would be offered interest-free, with payments spread out through utility bills.
READ MORE: UN projects Pakistan economy to grow by 2.3%
President urges efforts to strengthen economy
Meanwhile, President Asif Ali Zardari on Monday, while highlighting the country's vast potential for development, called for unified and determined efforts to build a robust and self-reliant national economy.
In a meeting with Pakistan Peoples Party leaders and workers at Aiwan-e-Sadr on the occasion of Eid ul-Azha, the president extended Eid greetings and praised party workers as the backbone of the party, commending their unwavering commitment during testing times.
He urged them to stay devoted to the nation and play a proactive role in its development. Emphasising agriculture as the cornerstone of the national economy, the president called for prioritising its growth and supporting farmers to strengthen the economic base.
Commenting on regional issues, President Zardari expressed concern over rising extremism in India. He noted that minorities, particularly Muslims and Christians, were facing increasing discrimination and suppression under the extremist Hindutva ideology, which he warned posed a threat to the entire region.
He also reaffirmed the historical, religious, and cultural legacy of Muslims in the subcontinent.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
43 minutes ago
- Business Recorder
Budget 2025-26: Pakistan govt proposes 18% tax on imported solar panels
Pakistan government on Tuesday proposed the budget for the financial year 2025-26, revealing its intention to impose 18% sales tax on imported solar panels. The proposed tax would help the local industry grow, Finance Minister Muhammad Aurangzeb said in his budget speech in the National Assembly. The development comes amid a solar boom in the country, with net-metering capacity in Pakistan jumping to 2,813 megawatts (MW) as of March 31, 2025, according to the Pakistan Economic Survey 2024-25 released on Monday. Key highlights of Pakistan Economic Survey 2024-25 The net-metering capacity rose by over 300MW from the previous fiscal year, when the capacity stood at around 2,500MW, as per NEPRA's State of the Industry Report 2024. The 300MW jump in net-metering capacity was largely attributed to a sharp fall in solar panel prices and the financial incentives net-metering offers to consumers. However, with 18% tax proposed in the budget for FY26, the prices for solar panels may increase. Despite being a low-income country plagued by economic and social issues, a green revolution is taking place in Pakistan and the South Asian country has quietly emerged as one of the world's largest markets for the growing solar industry. According to the Global Electricity Review 2025 by Ember, an energy think tank in the UK, Pakistan imported 17 giga-watts (GW) of solar panels in 2024, joining the ranks of leading solar nations. 'Solar is now so cheap that large markets can emerge in the space of a single year - as evidenced in Pakistan in 2024,' read the report published earlier this year. 'Amid high electricity prices linked to expensive contracts with privately-owned thermal power stations, rooftop solar installations in Pakistan's homes and businesses soared as a means of accessing lower-cost power.' A recent research report stated that China exported more solar panels to Pakistan than to many G20 nations, with over 16 gigawatts (GW) imported in 2024 alone. The report titled 'Leader of One or Leader of None - China's Choice for Clean over Coal in Pakistan' published by think tank Renewables First said more than 39GW of solar panels, nearly all from China, entered Pakistan in the last five years. Solar panels: Pakistan govt mulling withdrawing ST exemption These solar panels are 'enough to exceed three-quarters of Pakistan's installed national generation capacity', the report said. 'Pakistan may be the first to experience this clash between legacy coal and democratised solar at this scale, but it will not be the last. If China gets this right, it will not just lead to Pakistan's energy transition. It will prove itself as the architect of a new Global South energy paradigm, one that is fast, fair, and truly transformative,' the report envisaged.


Express Tribune
an hour ago
- Express Tribune
Pakistan's economic growth on track: PM Shehbaz
Listen to article Prime Minister Shehbaz Sharif, while chairing a federal cabinet meeting on Tuesday in Islamabad, expressed satisfaction on economic indicators while maintaining that the country has now reached a take-off position. "After defeating India in a conventional war, we now need to surpass it in the economic field as well. The entire nation is united, and such opportunities arise only once in a century." he said. While discussing the budget for the next fiscal year, PM Shehbaz said that the government and the people have faced severe challenges over the past year and a half. He lauded the salaried class for playing a vital role in economic stability, urging the wealthy and influential classes to also play their part. He said the common man and the salaried class have played a vital role in economic stability, and the salaried class has borne a significant burden in the previous budget, contributing Rs400 billion to the national treasury. Due to the sacrifices, hard work, and efforts of the salaried class, Pakistan has reached a position where it is ready for take-off, he added, questioning the wealthy and influential sections of society about their contribution to the country. He further said that positive indicators of economic stability have emerged, with a decrease in inflation rate and policy rate, an increase in exports, and a significant increase in foreign exchange reserves and IT exports. It is time to focus on economic growth in the current budget, he added. The PM said that Pakistan defeated an enemy that claimed it was incomparable to Pakistan in a conventional war, and now we will also defeat India in the economic field. With determination and hard work, nothing is impossible, and everyone needs to work together day and night to move forward. "All institutions have played a role in economic successes, and now is the time for us to move forward together. The entire nation is united, and such opportunities arise only once in a century. We should not waste this moment but utilise it. India is talking about using water as a weapon after its defeat in war, but we will take every single drop of water that belongs to Pakistan, and we will not tolerate any disruption. India has no right to stop our share of water, and it cannot do so," he added. "We have discussed the situation with all four provinces, and we will be successful on this front as well," he said, while appreciating the hard work of all ministries, especially finance, regarding the budget. PM Shehbaz also condemned the ongoing atrocities in Palestine and Kashmir, saying that the brutality in Palestine is the worst form of oppression in the present era, and the international community should play a role in achieving an immediate ceasefire in Gaza. He lamented that innocent children, girls, and Muslims are being killed, and such atrocities have not been witnessed ever before. He added that the people of Kashmir and Palestine will definitely achieve freedom. The PM reiterated Pakistan's full support for the Palestinian and Kashmiri brothers and sisters, saying that the people of Pakistan stand and will continue to stand with them.


Business Recorder
an hour ago
- Business Recorder
Pakistan increases defence spending by over 20% after recent clashes with India
Pakistan has announced to raise its defence budget significantly by over 20% as the government allocated Rs2.55 trillion for the incoming fiscal year (FY26). The increase in budget spending comes at a time when tensions between neighbouring Pakistan and India remain high. Finance Minister Muhammad Aurangzeb announced Pakistan's federal budget 2025-26 'for a competitive economy' on Tuesday, targeting a modest 4.2% growth for the coming fiscal year, compared to 2.7% expected in the outgoing FY25. 'The country's defence is our top priority,' said Aurangzeb during his address, as he lauded the role of the country's leadership, especially the armed forces, for their role against recent clashes with India. Pakistan had allocated Rs2.12 trillion for defence in the FY 2024-25. Its defence budget was raised by 16.4% last year. Addressing the federal cabinet meeting, Prime Minister Shehbaz Sharif said that Pakistan is now in a take-off position, and all economic indicators are satisfactory. 'After defeating India in a conventional war, now it has to surpass it in the economic field as well,' the PM said. 'If there is passion and desire, nothing is impossible; everyone will have to work together day and night to move forward,' he added. Earlier, Tola Associates, a tax advisory and consultancy firm, has proposed to raise the defence budget to Rs2.8 trillion, reflecting a 32% increase as compared to the last fiscal, 'due to the war situation with the neighbouring country and the new recruitment of army personnel'. Ties between Pakistan and India nosedived after a deadly attack in Indian Illegally Occupied Jammu and Kashmir (IIOJK) last month that New Delhi said was backed by Islamabad. Pakistan denied involvement, but intense fighting broke out when India struck what it said were 'terrorist camps' in Pakistan. They agreed on a ceasefire, which has largely held.